Silicone Recycling Market Size, Share, Growth, and Industry Analysis, By Type (Silicone Recycling segment by Recycling Method, Physical Crushing and Chemical Cracking), By Application (Silicone Recycling Segment by Recycling Source, Industrial Waste Recycling and Post-consumer Recycling), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Silicone Recycling Market Report Overview

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The global silicone recycling market size was USD 60 million in 2022 and is expected to reach USD 88.5 million by 2031, exhibiting a CAGR of 4.3% during the forecast period.

In order to reduce waste and conserve resources, silicone recycling refers to the process of reprocessing and reusing silicone materials. The main ingredients in silicone, a manufactured substance, are silicon, oxygen, carbon, and hydrogen. Its distinctive qualities, including flexibility, heat resistance, and durability, make it suited for use in a wide range of products, including household goods, electronics, medical devices, and building materials. Silicone waste is gathered from a variety of sources, including post-consumer products, end-of-life products, and manufacturing wastes. This can apply to silicone molds, silicone rubber, silicone sealants, silicone-coated paper, and other silicone-based products. Different types and grades of silicone are separated from the collected silicone waste through sorting. Cleaning procedures eliminate contaminants such dirt, debris, and non-silicone materials.

COVID-19 Impact: Disruption of Recycling Operations to Hinder Market Growth

The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise/decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Numerous recycling facilities encountered operating difficulties during the pandemic as a result of lockdowns, reduced staffing, and modifications to waste management procedures. The silicone reprocessing industry was impacted, as was the entire recycling sector. Due to the epidemic, single-use goods like masks, gloves, and medical equipment—many of which contain silicone components—were used much more frequently. Due to the growing volume of silicone waste produced by the increased demand for these products, silicone reprocessing operations may become more important. The separation of various components and the eradication of impurities are essential to the recycling of silicone. Personal safety equipment (PPE) was used more frequently during the pandemic, and this led to certain instances of PPE being mixed with general waste or improperly disposed of, which could complicate the recycling of silicone and increase contamination.

LATEST TRENDS

"Growing Environmental Awareness to Enhance Market Growth"

Demand for sustainable practises has increased across businesses due to rising environmental concerns and laws. Due to this, recycling silicone and the creation of effective recycling methods have received more attention. The efficacy and efficiency of recycling silicone have increased thanks to innovations and developments in recycling technologies. This also entails the creation of chemical procedures that can degrade silicone polymers for recycling, such as solvolysis and hydrolysis. Collaboration and partnerships between various silicone industry stakeholders have increased in order to improve recycling capabilities. This involves working together with producers, researchers, and recyclers to create innovative recycling procedures, enhance collection methods, and encourage the use of recycled silicone materials.

Silicone Recycling Market Segmentation

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• By Type

Based on type market is classified as physical crushing and chemical cracking.

• By Application

Based on application market is classified as recycling source, industrial waste recycling and post-consumer recycling.

DRIVING FACTORS

"Environmental Regulations and Sustainability Initiatives to Augment Market Growth"

Recycling, resource conservation, and trash reduction have received more attention as a result of escalating environmental restrictions and sustainability programmes. Governments and regulatory organisations are putting into effect rules that promote or require recycling practises, including recycling silicone. A favourable atmosphere is created for the expansion of the silicone recycling business by this regulatory drive. Consumers, companies, and industries are becoming more conscious of the negative effects that garbage disposal has on the environment and the necessity of sustainable practises. Due to the fact that recycling silicone reduces landfill waste, conserves resources, and uses less energy, there is an increased need for recycling solutions. Recycling silicone delivers financial savings and increased resource effectiveness. Companies can lessen their dependency on virgin ingredients, which can be expensive to extract and manufacture, by recycling silicone resources.

"Increasing Demand for Sustainable Products to Propel Market Growth"

Recycling silicone delivers financial savings and increased resource effectiveness. Companies can lessen their dependency on virgin ingredients, which can be expensive to extract and manufacture, by recycling silicone resources. Recycling lessens the carbon footprint connected with silicone manufacture and aids in energy conservation. Businesses and industries are drawn to these cost and resource-saving advantages, which raises demand for recycled silicone. Sustainable products are increasingly in demand across a range of businesses. Products created from recycled or environmentally friendly materials are in high demand. In order to satisfy this need, producers are adding recycled silicone to their products. To ensure a steady supply of recovered silicone materials, this drives the necessity for silicone recycling.

RESTRAINING FACTORS

"Complex Composition and Contamination to Impede Market Expansion"

The diverse compositions of silicone-based materials can make recycling them difficult. Recycling attempts may become more challenging if contamination from other materials, such as adhesives or coatings, is present. The complexity and expense of recycling silicone may increase due to these complications and pollutants, preventing its mainstream adoption. In some areas, the accessibility and availability of silicone recycling infrastructure may be constrained. It takes a large amount of money and energy to set up specialised recycling facilities and collection systems for silicone products. The effective recycling of silicone waste is hampered by a lack of sufficient infrastructure.

Silicone Recycling Market Regional Insights

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"Europe to Dominate the Market Due to Strict Waste Management Policies"

The promotion of recycling and sustainable practises has been led by Europe. Strict waste management policies and goals have been adopted by the European Union (EU), including programmes like the Circular Economy Action Plan. In nations like Germany, France, and the Netherlands, these restrictions and incentives have promoted the growth of silicone recycling market share techniques and infrastructure. The advancement of silicone and other material recycling technologies has attracted research and development funding from European nations.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• ECO USA (U.S.)
• GW United Chemicals GmbH (Germany)
• TerraCycle (U.S.)
• NewAge Industries (India)
• Supreme Silicones (Singapore)
• Global Serve Pte Ltd (TGS) (U.S.)
• Silikids (Gosili) (U.S.)
• Munch Cupboard (Zealand)

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the ssegmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Aanalysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.